In a first, as many as 49 industrial, commercial and residential properties in Jammu and Kashmir mortgaged with banks against loans that have gone bad, have been thrown open for auctioning for bidders across the country. The Mega E-Auction is piloted by the State Bank of India (SBI) on behalf of other PSU banks.
The e-auction of these properties being held under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, (SARFEASI Act)—2002, is underway. The outcome will only explain if it would somehow dilute the land ownership rights enjoyed by the state subjects of the erstwhile state of Jammu and Kashmir.
The 49 properties up for grabs till the end of March are all in the Jammu region and include the properties mortgaged to Punjab National Bank, UCO Bank, and Union Bank of India. Among the 49 properties, 15 are Residential mortgaged to Union Bank of India, UCO Bank and Punjab National Bank. The rest of the properties include 13 commercial properties and 21 industrial properties which are all mortgaged to Punjab National Bank. The net worth of these properties is Rs 70 crore.
As per the State Bank of India (SBI), these properties are being offered to people at a much lower rate than the market prices.
“Customers can buy cheaper residential and commercial properties, land, plant & machinery and vehicles,” the SBI’s statement on Mega E-Auction reads.
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Before The Kabul Retreat
Described as the ‘Graveyard of Empires’, Afghanistan was always termed to be at peace when it was at war. But the land-locked desert country that was always in turmoil and one of the worst targets of the Great Game suffered immensely throughout, especially in the last 40 years, Masood Hussain writes
FINGERS CROSSED
Almost everybody in academia and politics that Khalid Bashir Gura spoke to, the response over Kabul happens was simple – wait and watch
Parliamentary Committee In Srinagar
The visiting 28-member Parliamentary Standing Committee on Home Affairs have had detailed interactions with top civil administration and discussed developmental scenario and people’s welfare measures in Jammu and Kashmir. It is on a 4-day visit. Congress leader and MP Anand Sharma is heading the committee.
MUSIC IN MUD HOUSE
Deep into north Kashmir, Faheem Mir meet a small community that sings and lives on folk music but is facing a tense situation in the last few years
THE KABUL SPILLOVER?
Security experts are divided over the possible impact of the Kabul situation on Kashmir. But the dramatic Taliban triumph has altered the region’s geopolitics, for the time being, writes Riyaz Wani
Durga Bhawan At Katra
To enhancing facilities for the convenience of the Vaishno Devi pilgrims, Lt Governor Manoj Sinha laid the foundation for the Durga Bhawan, a high utility pilgrim-centric facility worth Rs 24.4 crore. The facility will accommodate 4000 pilgrims.
Women Empowerment
In the first, 480 talented girls from Jammu and Kashmir were included in the degree and diploma courses of the Pragati Scholarship. Jammu and Kashmir has also got nine scholarships under the Saksham Scheme for Persons with Disabilities.
‘SOME HISTORIANS BELIEVE THAT AFGHANISTAN CONFLICT IS THE OUTCOME OF INDIA AND PAKISTAN KASHMIR STAND-OFF'
Foreign policy expert and editor of HardNews magazine, Sanjay Kapoor believes that Taliban 2.0 has more legitimacy unlike in the past as it had signed a deal with the US and negotiated with other countries of the region, but the final verdict can be passed only after it manages ticklish issues involving half of its population, the women
Boredom Is Creative?
Getting bored is not as boring as it gets, writes Azra Hussain
LG In Bangus
Lt Governor, Manoj Sinha inaugurated the Bungus Awaam Mela amidst grand arrangements for village games, exhilarating local performances, and other activities to celebrate the 75th year of Independence.
